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Suppose Wexton Corporation's inventory records for a particular computer chip indicate the following at October 31: (Click the icon to view the inventory records.)
Suppose Wexton Corporation's inventory records for a particular computer chip indicate the following at October 31: (Click the icon to view the inventory records.) The physical count of inventory at October 31 indicates that five units of inventory are on hand. Read the requirements Requirement 1, 2, 3, 4. Compute ending inventory and cost of goods sold, using each of the following methods Specific unit cost, assuming two $56 units and three $66 units are on hand, Average cost (round average unit cost to the nearest cent), First-in, first-out, and Last-in, first-out (Round the average cost per unit within your average cost computation to the nearest cent. Round all other amounts to the nearest dollar) Ending inventory Cost of goods sold Specific Unit Cost Average Cost FIFO Cost LIFO Cost
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